The deal is part of greater efforts aimed to help Egyptian private companies to deal with the negative impacts of the COVID-19 pandemic, giving attention to creating equal opportunities for women at work.
Donaldson clarified that his country’s current investments in Egypt recorded $5.5 billion, noting that Egypt Is one of the strongest elements in terms of UK’s trade expansion.
Each state must respect the sanctity of international treaties affirmed in Vienna Convention on the Law of Treaties signed in 1969, the professor of general international law stipulates.
The TFSCB will support efforts by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) to outline a national strategy to achieve that.
The financing comes for the completion of the project of improving the performance of the oil and gas sector in Egypt.
This agreement aims to secure immediate funding from multilateral and bilateral development partners for budgetary support and assistance in mitigating the impact of the pandemic.
The agreement includes the establishment of centers of competence specializing in the fields of renewable energy and energy efficiency in applied technology schools in Hurghada and Aswan.
The Minister revealed that the purpose of the project is to renovate and modernize the Cairo Metro Line 44km from North to South across the heart of Cairo and connecting with both Line 2 and Line 3.
This agreement comes within the company’s land monetization strategy which secures a total of c. LE 535 million of cash inflows from these agreements to date.
The first agreement entails a development of Telecom Egypt transmission and infrastructure services' commercial model with Etisalat Misr.
The company indicated that the period of validity of this agreement is one year, and it may be renewed for another period with the consent of both parties.
The agreement was signed by Minister of Investment and International Cooperation Sahar Nasr and Regional Director of the World Bank in Egypt Marina Wes.
ElSewedy Electric for Trading & Distributing, Elsewedy Electric, Agreement, Egyptian Electricity Transmission Company, EETC,
Minister of Petroleum and Mineral Resources Tarek el-Molla affirmed the continuation to offer investment bids and opportunities in this sector.
“I hope that Egypt's support to Sudan could extend until Sudan recovers politically and economically,” said TMC leader Yasser al-Atta.
“The development of infrastructure is inevitable. We must strive to achieve peoples’ aspirations to development and prosperity,” Sisi said.
Upon this agreement, Global Telecom will pay its tax dues to the tax treasury, which amount to $136 million until 31 December 2018.
The framework will define the proposed areas of cooperation, the Egyptian needs in the various technical support sectors, and means of financing.
The deal is meant to establish an engineering hub for Mercedes-Benz in the Suez Canal area for assembling and manufacturing of automobiles, the premier said.
In FY2017/2018, Egypt achieved a 12.7 percent growth in non-oil exports to record $12.7 billion from $15 billion in the previous fiscal year.